Very.co.uk Huge credit limit

tracie_80

I hope this is the right section for posting. I have struggled to find the right section.
Anyway, I have had an account with Very for over 10 years, I have always made regular payments and I am happy with a small credit limit. My problem is that it keeps increasing. It's now at £9300 and I will never ever use it. Could the high credit limit limit have an effect on other lenders offering me credit? Does the high limit effect me in anyway? If I requested it lowering, would it effect my credit file? What to do?

Very.co.uk_company_representative

Hi tracie_80,

We don't deal with Financial Services as we're not trained in this department. We are aware that a high credit limit can indicate that you are a good payer. Our accounts are reviewed every 28 days and if you are making your payments on time and we have a healthy trading history, your credit limit is automatically increased. But we're not too sure if this does affect your credit score.

You can call our Credit Reference Team on 0844 822 4698 and they will be able to advise further.

For peace of mind we can also decrease your credit limit if you wish. You can either discuss lowering your credit limit with our Underwriting team on 0844 811 1218 or you can email us at Help@VeryHQ.co.uk and we can send an internal email over to this team to reduce this for you.

Many Thanks

Lizzie
Very Company Representative